Twitter investors should brace for an all-out crash in the stock price if Tesla CEO Elon MuskIn the absence of a bid, we would not be surprised to see the stock find a floor at $22.50," said Jefferies analyst
said Tuesday in a new note to clients. Such a price would be about 40% lower than Twitter's current trading level.The path is being cut for that price put forth by Thill for Twitter shares, by Musk's own doing. In an early morning Tweet, Musk said “Yesterday, Twitter’s CEO publicly refused to show proof of <5%," adding that “this deal cannot move forward until he does."Twitter CEO Parag Agrawal wrote a long tweet thread to try to counter Musk's claims the platform was chock full of fake accounts.
"We suspend over half a million spam accounts every day, usually before any of you even see them on Twitter," Agrawal in the 13-tweet thread. "We also lock millions of accounts each week that we suspect may be spam — if they can’t pass human verification challenges ."
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